Finance and Monetary Affairs in the EU

Latest news on economic and monetary affairs in the European Union.

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Russia hints at laxer Cyprus debt rules — 11 January 2013, 14:30 CET

Russia said on Friday it was ready to loosen the terms under which debt-ridden Cyprus had to repay loans which Russia had made to its close trading partner.

Romania unveils 2013 budget, eyes 1.8% growth — 10 January 2013, 22:06 CET

Romanian Prime Minister Victor Ponta on Thursday unveiled the 2013 draft budget that targets 1.8 per cent economic growth and a public deficit under 2.0 per cent.

Moroccan firm chocs up 200,000-euro bill — 10 January 2013, 19:41 CET

While most company executives are anxiously cutting costs in austere times, one Moroccan CEO happily oversaw chocolate purchases worth 35,000 euros last year, a local newspaper reported on Thursday.

EU not to blame for austerity: Barroso — 10 January 2013, 17:49 CET

European Commission President Jose Manuel Barroso denied on Thursday that the European Union was behind the tough austerity measures that have swept the continent in recent years.

No deal this month on Cyprus bailout: Juncker — 10 January 2013, 14:22 CET

Cyprus, the next eurozone bailout candidate after Greece, Ireland and Portugal, is unlikely to see a rescue accord agreed this month, eurogroup head Jean-Claude Juncker said Thursday.

Juncker offers hope for help with legacy bank debt — 10 January 2013, 18:41 CET

Eurozone head Jean-Claude Juncker offers some hope that the eurozone's new rescue fund can help ease the burden on countries that had to bail-out banks before it became operational.

Juncker backs French woman to head new bank supervisor — 10 January 2013, 13:41 CET

The head of the European Union's new banking regulator should be a woman and in this first instance, come from France, outgoing eurozone head Jean-Claude Juncker said Thursday.

Italian rates sharply down in EUR 8.5 bn bond sale — 10 January 2013, 12:32 CET

Italian borrowing rates dropped sharply on Thursday in the Treasury's first bond sale of 2013, which raised 8.5 billion euros in short-term paper.

US urges Britain to keep strong voice in Europe — 10 January 2013, 17:51 CET

Britain is trying to play down embarrassing comments by its closest ally the United States expressing concern about London's plans to renegotiate its relationship with the EU.

Eurozone could emerge from crisis in 2013: S&P — 10 January 2013, 16:46 CET

The eurozone could emerge from its debt crisis this year, Standard & Poor's said in a report titled "The Eurozone Debt Crisis: 2013 Could Be A Watershed Year".

Deal on Irish bank debt is EU presidency priority — 09 January 2013, 22:54 CET

Dealing with the scale of the Irish banking debt is a priority of Ireland's EU presidency, Prime Minister Enda Kenny said Wednesday.

Eurozone contracts sharply end 2012, rebound mid-2013 — 09 January 2013, 17:31 CET

The eurozone's recession likely sharpened at the of last year but the single currency zone will begin to rebound in the second quarter of this year, say forecasters at German, French and Italian agencies.

Merkel says 'no special conditions' for Cyprus bailout — 09 January 2013, 17:33 CET

German Chancellor Angela Merkel said on Wednesday that Cyprus would not be allowed any exceptional terms from its European partners as it seeks a bailout worth 17 billion euros ($22 billion).

British business leaders warn Cameron over risks of EU exit — 09 January 2013, 14:28 CET

Major British business figures warn Prime Minister David Cameron that the renegotiation of the country's relationship with Europe could risk its exit from the EU, with "damaging" consequences for the economy and businesses.

British official trade deficit narrows in November — 09 January 2013, 13:03 CET

Britain's trade-in-goods deficit narrowed in November, as rising oil and chemicals exports were offset by a six-year high in imports from the European Union, official data showed on Wednesday.

Relaxing bank liquidity rules sparks hope for euro lending boost — 09 January 2013, 10:30 CET

The loosening of liquidity rules due to come into effect on banks raises hopes among some analysts to a recovery of lending the eurozone.

Ireland hopes Britain will stay in EU — 08 January 2013, 21:39 CET

Ireland hopes Britain will not turn its back on the European Union but it must abide by the same conditions as other member states, Irish deputy prime minister Eamon Gilmore said on Tuesday.

EU Investment Bank confirms EUR 10 bn capital boost — 08 January 2013, 17:42 CET

The European Investment Bank says its shareholders, the EU's 27 member states, have unanimously approved a 10 billion euro capital increase, as agreed by national leaders last year.

Euro unemployment hits 'unacceptable' high — 08 January 2013, 16:02 CET

European unemployment has hit an unacceptable high, as one national leader put it, with dire figures in Spain highlighting a growing north-south divide that experts warn will only get worse.

European retail sales edge up — 08 January 2013, 11:39 CET

Eurozone and EU retail sales edged up in November after a sharp fall in October as consumer confidence firmed slightly ahead of the Christmas holiday season, official data showed on Tuesday.

EU welcomes relaxation of bank capital buffer terms — 07 January 2013, 17:50 CET

The European Commission on Monday welcomed the agreement by top regulators to ease the burden on banks to increase their capital, a move which should also help the economy by providing more credit.

Greece to enact reforms tied to EU loans — 04 January 2013, 17:23 CET

Greece must enact a new batch of fiscal reforms in time to earn its next slice of EU loans later this month, Finance Minister Yannis Stournaras said on Friday.

Eurozone inflation 2.2% in December — 04 January 2013, 13:14 CET

Inflation in the 17-member eurozone was stable at 2.2 percent in December, official data confirmed on Friday, as the slowing economy took pressure off prices.

Germany back to growth as December PMI raises hopes — 04 January 2013, 13:13 CET

Germany appeared set for a return to growth in December as wider eurozone business activity hit a nine-month high, a closely watched survey showed on Friday.

Germany plans EUR 5-6 bn in more cuts by 2014: report — 04 January 2013, 13:12 CET

The German government is eyeing 5.0-6.0 billion euros in additional spending cuts in 2014 in a bid to balance the government budget, a newspaper reported on Friday.